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Clock Tower's penthouse drops $1.5 million off asking price

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Clocktower unit in South Beach. Photos courtesy of Rob Levy & Eric Turner - Sotheby’s International Realty and OpenHomes Photography

In April of 2016, we brought to your attention South Beach’s historic Clock Tower penthouse, an unofficial landmark in the area, which hit the market at a whopping $8,500,000. While the chance to live right inside that big clocktower dazzled many, the asking price proved too steep.

Today it cuts its asking down to $6,995,000.

For passersby who have always wondered what the penthouse looked like from the inside, now is your chance: For the first time in over two decades, the historic Clock Tower's penthouse unit, which comes with a lounge room inside the clock itself, is up for grabs.

The two-bed, two-bath, approximately 3,000-square-foot home comes with both hardwood and concrete flooring, as well as original brick and concrete walls, steel structural beams, wrap around deck, and more.

Before David Baker and the McKenzie, Rose, & Halliday development firm turned the space into lofts in 1992, this 1907 building was the headquarters of the Schmidt Lithograph Corporation, once the largest printer on the West Coast. Company founder Max Schmidt constructed the rooftop penthouse so his company’s professional lithographers could take advantage of the natural light.

But the tower was almost a goner. Later in the 1930s, San Francisco planned on demolishing the tower during Bay Bridge construction. That is, until Schmidt threatened to pull his company out of San Francisco. The city obliged. The clocktower stayed. And it’s a marvel to behold.